5 Simple Steps to Begin the Home-Buying Process

Buying a home can be a daunting task. With the amount of money involved, homebuyers are often worried about making a mistake in the transaction. If at any time during the process you feel confused or misled, it is important to seek legal advice to address issues your realtor may not be able to handle.

 

1.     Contact several lenders. Figure out who has the best rates and promotional offers.

2.     Get pre-approved. Once you settle on a lender, let them know you would like a preapproval letter. This will tell you how much the lender is willing to lend you. It will serve as collateral when you actually get to looking at houses.

3.     Use the internet to search for houses. While your realtor will be able to guide you in the right direction once you let them know the geographical area and price range you are interested in, you shouldn’t leave it all up to your realtor. Homes come and go on the market quickly and you may spot something your realtor does not. Once you pick some homes, your realtor can take you to see them in person.

4.     Make an offer quickly. Once you’ve found something you want, it’s important to make an offer. You realtor can guide you by providing an offer range.

5.     Don’t get discouraged. The home buying process is inherent with stress. It’s important not to get discouraged if you don’t get the house you want because someone else made a better offer. Keep looking. Travel with you list of “must haves” and “compromise items.” You won’t always find the perfect house, but you can always improve it to make it the home you want. Don’t let things like wall color and flooring distract you too much. These things can be changed.